Uruguay: Wheat Market 2024

Wheat Market Size in Uruguay

For the third year in a row, the Uruguayan wheat market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption faced a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wheat Production in Uruguay

In value terms, wheat production dropped modestly to $X in 2022 estimated in export price. Overall, production saw a abrupt decline. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of wheat in Uruguay shrank to X tons per ha in 2022, which is down by X% against 2021 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by X%. Over the period under review, the average wheat yield reached the maximum level at X tons per ha in 2021, and then dropped in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The wheat harvested area in Uruguay stood at X ha in 2022, increasing by X% on 2021. Over the period under review, the harvested area, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The wheat harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Wheat Exports

Exports from Uruguay

In 2022, overseas shipments of wheat increased by X% to X tons, rising for the fourth consecutive year after four years of decline. In general, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wheat exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Free Zones (X tons) was the main destination for wheat exports from Uruguay, with a X% share of total exports. Moreover, wheat exports to Free Zones exceeded the volume sent to the second major destination, Algeria (X tons), eightfold. Brazil (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Brazil (X% per year).

In value terms, Free Zones ($X) remains the key foreign market for wheat exports from Uruguay, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Algeria, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Algeria (X% per year).

Export Prices by Country

The average wheat export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by X% against 2020 indices. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Brazil ($X per ton) and Chile ($X per ton), while the average price for exports to Algeria ($X per ton) and Free Zones ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Uruguay

In 2022, the amount of wheat imported into Uruguay skyrocketed to X tons, jumping by X% on the previous year's figure. In general, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wheat imports soared to $X in 2022. Overall, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest wheat supplier to Uruguay, accounting for a X% share of total imports. Moreover, wheat imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at X%.

In value terms, Argentina ($X) constituted the largest supplier of wheat to Uruguay, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina amounted to X%.

Import Prices by Country

The average wheat import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price enjoyed mild growth. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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